United Overseas Bank to Take
Two Listed Divisions Private

By

Amit Prakash and

Shen Hong Dow Jones Newswires

Updated March 17, 2002 3:23 p.m. ET

SINGAPORE -- United Overseas Bank Ltd. said that it will take its listed units Industrial & Commercial Bank Ltd. and Overseas Union Trust Ltd. private to rationalize its vast operations and integrate the units' resources into the parent bank.